It may be a myth but I took out a cheaper drill press bearing quickly by doing that for no more than maybe 10 hours of use. Now it's a sander, because it no longer will hold tolerance until I get around to changing the bearing. I'm sure my 50 year old Rockwell could put up with it, but after ruining the other drill press I bought the Rigid sander back in 2002, (still running fine), but got tired of changing back and forth between the belt unit and spindles, so I picked up the HF spindle sander recently on sale. Takes the same size wheels as the Rigid, and my only complaint is when I put my vacuum on it the little holes in the plastic table inserts tend to restrict the wood from moving due to vacuum. Roars like a banshee, but I got a lot of hours on it already, and it runs fine.
I have two boxes full of those drill press chucks and sanding cylinders, never use them anymore.